A Look at How Manufacturers Are Surviving

Insight Exchange by L.E.K. Consulting

Manufacturing is never simple, but it’s rarely been as hard as it was in 2021. The year began with optimism as COVID-19 vaccines became widely available in the U.S.; people began returning to more-normal lives and economic activity rose.

That optimism was short-lived as the stresses of the past two years ravaged the supply chain-denying automakers and consumer electronics makers the chips needed to finish products, delaying arrivals of products from overseas as ships waited to unload goods at overcrowded ports, and forcing consumers to select Option B, C or D when their first choices weren’t available.

In early 2022, IndustryWeek and L.E.K. Consulting partnered together to survey manufacturers to ask how they’re doing it all. The results are available in a research report, and today’s episode will cover 4 themes from the broader findings:

1. Labor shortages
2. Supply chain risks and rising input costs
3. Rising shipping and warehouse costs
4. Technology investments

Today we are joined by Eric Navales and Darren Perry to look at how manufacturers are surviving.

Visit L.E.K. Consulting at https://www.lek.com/